Synergy
Crypto Overview
Overview
Synergy (SNRG) is a proof-of-stake cryptocurrency launched in 2016 that focused on providing an energy-efficient alternative to Bitcoin's proof-of-work consensus mechanism. The project aimed to create a decentralized payment network with faster transaction speeds and lower environmental impact.
Purpose and Utility
The primary stated purpose of SNRG was to serve as a medium of exchange and store of value while consuming significantly less energy than Bitcoin through its proof-of-stake mechanism. The project also implemented masternodes for network security and governance.
Current Status
As of 2024, the Synergy project appears to be largely inactive with minimal development activity, very low trading volume, and limited real-world adoption. The official website is no longer maintained and community channels show little to no recent activity.
Token Distribution and Governance
Limited information is available about the initial token distribution. The project used a proof-of-stake consensus mechanism where token holders could stake their SNRG to help secure the network and earn rewards. No evidence was found of the project facilitating gambling, interest-based lending, or other prohibited activities.
Crypto Impact
To assign a comfort level investing in Synergy from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Synergy.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.